October 2010 Fannin County Residential Market Report

The Mountain Life Team Blogger October 11, 2010

Fannin County Residential October 2010 Market Report

Fannin County Residential Market is somewhat depressed much like that of Union County. Homes Sold in Blue Ridge and surrounding areas experienced a drop in Median Sales Price of 27%. In September 2009 the Median Sales Price was $225,000, in September of 2010 it plummeted to $164,000.  The good news is the number of transactions climbed 3% by 1 sale, 36 Sales up from 35. Now there is a huge difference in the number of Homes Under Contract In Blue Ridge, GA. At month’s end, the number of Homes Under Contract was up a whopping 66%,  a change of 25 more than the 38 in September of 2009.

The number of New Properties continues to go down each month, as well as the number of total Homes For Sale In Blue Ridge each month.  The supply and demand is hold steady over the past year. Supply is down 6%, while the number of Homes Sold in Fannin County has risen 3%.

The Average Days On Market (DOM) has been increasing month after month since May 2010. The Days On Market is up 33% to an average of 174 Days in Fannin County. Having said all of that, the Months Supply of Inventory, better known as the Absorption Rate, is down an amazing 44% to 13.7 Months. To sum all of that up, it would take 13.7 months today’s market to sell all available Homes For Sale In Blue Ridge as long as no other homes entered the market.

I hope that this gives you a great insight to what is going on in the Fannin County Residential Real Estate Market. If I can answer any questions or concerns that you may have, I will be more than happy to do so. Please Call Me at 706.994.8686, or you can Contact Me and I will get back to you with answers. Thank you so much for viewing this North Georgia Mountain Market Report.

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